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Your company needs $20,000. It signs a lump-sum payment note for 2 years when the market rate of interest is 12 percent compounded quarterly. What

Your company needs $20,000. It signs a lump-sum payment note for 2 years when the market rate of interest is 12 percent compounded quarterly. What is the amount your company is required to repay? What are the amounts shown on the pro forma income statement, statement of cash flows, and balance sheet for the first two quarters of this note?

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